Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The head of research at the American firm Galaxy Research, Alex Thorn, stated that the risks of Bitcoin being compromised by quantum computers are significantly overstated.
Related Posts
Thorn acknowledged that the threat does exist. In theory, a sufficiently powerful quantum system could indeed reconstruct a private cryptographic key from its public counterpart, potentially enabling transaction forgery and fund theft. However, according to the analyst, to consider this scenario as inevitable—or exclusive to Bitcoin—is inaccurate: such risks could affect all modern cryptography.
The research director mentioned that developers are already preparing to meet the quantum challenge. Efforts are underway to implement new types of addresses utilizing post-quantum cryptography, which will allow users to preemptively transfer funds to a more secure environment, Thorn assured.
Concurrently, mechanisms are being discussed to limit the use of “old coins with exposed keys”—this should reduce systemic risks without confiscating assets, the analyst believes. In his view, there is still a considerable distance before quantum computers capable of breaking current encryption algorithms become a reality. The open architecture of Bitcoin enables the community to adapt the protocol in advance and implement necessary changes without critical consequences for the network, Thorn is convinced.
Previously, analysts from Ark Invest and Unchained stated that at least a third of existing bitcoins could be vulnerable to quantum threats, although practical implementation of such threats is still far off.
